Enjoy the going-nowhere market. Because while the early trading hype was a gain of 160 on the Dow at the open and another 15 on the S&P, we were in about this position in the Monday preopen.
Then the market fell on its ass.
Down 97 on the Dow and 8-something on the S&P.
Although we anticipate a bit higher (since the Typical Summer Rally doesn’t usually fizzle until -mid-late August) retirement is when we employ the Tyson and Sanderson Farms market strategy.
Slo0-Joe Biden is a fool. Been telling people the “#1 Crisis” in the world today is Climate. Yet, sure looks to us like yet-another LIHOP/MIHOP (let it happen on purpose/made it happen on purpose). Covid? China? Naw….
Remember, we’re all supposed to have been driven from the financial district by rising waters due to glacier melt. And Hawaii ought to be little more than a volcanic reef by now.
Yet it remains (because the control grab of Covid is blowing -up) the easiest path to a Global Reset for the World Economic Forum and other high-roller elites. The goal is a single global government, destruction of borders and population reduction, of course.
For Slo and Kam, reality intrudes again this month. The Solar cycle is really pretty normal:
As you can see, the current sunspot in June was healthy and July bumped up to 34.4. So, no lesser Maunder Minimum cold snap ahead.
What we do have – mainly due to extreme oscillation of the La Nino/el Nino hot water bottle in the Pacific, is a drought.
Which, in turn, has charred well over a million acres. Resulting in this morning’s fire-check:
Not All Gloomy
It’s important to go looking for silver linings, now and then. Especially since some rain has crept into the Arizona, New Mexico area (annual “monsoons” time). And temperatures, rainfall – and in turn crops – in the Midwest are doing OK.
While we’re braced for a full-on chorus of Climate pandering (as an attention-shifter from the Biden/Harris failures on Covid management, the border, economy, and so forth, the boots on the ground reality here in the East Texas Outback is frankly, quite delightful.
The median high for last July was 81.1 degrees while this year we cooled to 79.3. Along with this, morning temps have dropped low enough that a nibble on “outside projects” is possible. July average low last year was 74.3 while this year it was down to 71.2. Hell of a difference in comfort while working.
Rainfall has been remarkably steady, too: Last July 3.48-inches for the month and about 35 for the year-to-date. This July came in at 6.5-inches of rainfall and we’re almost caught up with about 34 inches for the year.
On average, weather is weather. Anyone arguing climate at less than 11-solar cycle comparison levels should, in our view, be viewed suspiciously as a possible charlatan.
Won’t stop the hype, though. But it will keep the public from concentrating on grandiose power grabs of personal freedoms. And uglier stories like under the Nuremberg rules, how is it government can force vaccinations?
Joe’s got another reason to go “climate ballistic” too as yet-another failure looms: Landlords, tenants fill U.S. courts as eviction moratorium ends – MarketWatch reports.
Maybe related, maybe not: Exclusive: Another major financial institution ditches overdraft fees – CNN.
Spend to the End & More…
Yet another outing of open-ended government: Maria Bartiromo: Infrastructure bill could cost trillions more than Democrats claim. Problem is? With 7.7 billion people, yet only 2.5 billion are able to produce and food, goods, and services, how do you keep the rest “under control” and paying taxes, and keeping the same stooges in office? Answer: Make up jobs. I reckon America will soon have it’s first “Dick Czar” and a “Race Czar” and we’ll all be out measuring color tints that don’t matter while measuring one-another. And be misled by efforts like CRT to pay for insanity a the same time. Welcome to the “New Normal.”
Oh, those poor bankers: Goldman Sachs raises banker pay after 95-hour week complaint. Base pay of $110,000? You’re kidding, right?
War Watching: Israel is pissed (not a good thing) and war drums are beating: Iran Ready To Deliver “Crushing” Military Response After US, Israel Vow Imminent ‘Action’ For Tanker Attack.
Duck! NBD, There’s Just a Massive Asteroid Hurtling Past Earth This Month mentions LifeHacker. Although minute gravitation, we will keep an eye on seismographs, anyway.
Hand me the hatchet! You know someone looms as a possible presidential candidate when stories like “Analysis: Ron DeSantis’ priorities on Covid-19 are all screwed up” pop up. Like a Cuomo is a better, gov? LOL: Investigators grilled Cuomo for 11 hours in sexual harassment investigation | TheHill. Then toss in sending CV-19 sickees to nursing homes? Can you spell D-O-N-E?
The BIG Story Getting Squashed:
Crossed on PR wires Tuesday. This is from the Foundation on Government Accountability and is, in our view, very important and worth the time to read:
Friday, the Foundation for Government Accountability (FGA) filed Freedom of Information Act (FOIA) requests to multiple federal agencies requesting communications and documents related to Biden Executive Order (EO) 14019 titled “Promoting Access to Voting.”
The information that is being requested may help determine whether or not the Biden administration is engaging in unethical and potentially criminal behavior related to benefits provided to third-party organizations. It may also help determine whether or not the administration is misusing federal resources to support voter registration efforts designed to unfairly benefit one political party over another.
EO 14019, issued in March, commands the head of every federal agency to submit a plan outlining the steps their agency will take to “promote voter registration and voter participation.” It follows the same strategy published in a policy paper written by Demos, a left-leaning organization focused on federalizing elections and expanding the use of the DOJ Civil Rights Division to “[p]ursue aggressive civil and criminal enforcement” against all election integrity reforms.”
While the left will cast this as an attack on them, there are simply too many questions about the Slow-in-Chief and the faux artist selling what could be seen as pass-through money, just to name a few.
This comes at a time when Texas and the feds are about to duke it out over who should vote. In Texas, the answer is simple: bona fide citizens. In other states? Not so much.
Low news flow day…long Peoplenomics tomorrow and we’ll have the ADP job numbers then.
35 minutes to the open, Dow is up 72, lumber flat to firm, but BTC down to $38,400 may signal another market decline is ahead.
Write when you get rich,